Vestmark Advisory Solutions Inc. Increases Stake in Credicorp Ltd. $BAP

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Credicorp Ltd. by 94.2%, owning 5,494 shares valued at approximately $1,023,000 by the end of the last reported quarter.
• Multiple hedge funds, including LPL Financial LLC and Alliancebernstein L.P., have also significantly increased their stakes in Credicorp, indicating strong institutional interest in the bank’s stock.
• Analysts have mixed views on Credicorp, with a consensus rating of "Hold" and a target price averaging $227.25, while the company reported a notable earnings per share (EPS) of $6.24 for the latest quarter.

Vestmark Advisory Solutions Inc. increased its position in Credicorp Ltd. (NYSE:BAP - Free Report) by 94.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,494 shares of the bank's stock after purchasing an additional 2,665 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Credicorp were worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Credicorp during the first quarter valued at $108,000. National Pension Service lifted its position in Credicorp by 0.7% during the first quarter. National Pension Service now owns 17,592 shares of the bank's stock valued at $3,275,000 after buying an additional 117 shares during the period. LGT Group Foundation purchased a new position in Credicorp during the first quarter valued at $289,000. Resona Asset Management Co. Ltd. lifted its position in Credicorp by 9.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 18,013 shares of the bank's stock valued at $3,358,000 after buying an additional 1,534 shares during the period. Finally, Nuveen LLC purchased a new position in Credicorp during the first quarter valued at $77,577,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BAP shares. Citigroup increased their target price on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen cut Credicorp from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. UBS Group reissued a "buy" rating on shares of Credicorp in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and increased their target price for the stock from $174.00 to $225.00 in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Credicorp presently has an average rating of "Moderate Buy" and a consensus price target of $236.80.

Credicorp Stock Performance

Shares of NYSE:BAP traded up $4.5010 during midday trading on Friday, reaching $255.6110. 98,752 shares of the company's stock traded hands, compared to its average volume of 318,850. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.08. Credicorp Ltd. has a one year low of $165.51 and a one year high of $256.68. The stock has a 50 day moving average of $231.79 and a 200 day moving average of $206.45.

Credicorp (NYSE:BAP - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.51. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%. As a group, equities research analysts anticipate that Credicorp Ltd. will post 21.9 EPS for the current fiscal year.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.